JIMMY CHOO, an unlikely target for LVMH or Valentino Fashion Group
Media reports on a possible take over of Jimmy Choo by LVMH and Valentino Fashion Group have been intesifying. CPP-LUXURY.COM reported early last week that founder and designer, together with current CEO are looking to raise over 500 million euros for a buy back.
Although LVMH has been on an intense shopping spree this Spring, buying Italian jeweller Bvlgari, French trunk maker Moynat and a share in a joint venture in India, it is highly unlikely that owner Bernard Arnault would be willing and ready to pay half a billion euros for British shoemaker Jimmy Choo, when similar brands are available for half the price, that is, if LVMH considered a shoes and bags brand as key for furthering its exisiting division, made up of Berluti and Stefano Bi.
As for Valentino Fashion Group, owned by investment fund Permira, have been seeking solutions to sell brands and possibly even find buyer for the ailing Valentino brand, rather than being in a buying position.